Wells Fargo & Company Increases T. Rowe Price Group (NASDAQ:TROW) Price Target to $112.00

T. Rowe Price Group (NASDAQ:TROW) had its price target hoisted by equities researchers at Wells Fargo & Company from $109.00 to $112.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.73% from the company’s current price.

TROW has been the subject of several other research reports. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Barclays initiated coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. TD Cowen cut their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $112.64.

T. Rowe Price Group Trading Up 0.3 %

T. Rowe Price Group stock traded up $0.34 during trading on Wednesday, hitting $106.94. 254,015 shares of the company were exchanged, compared to its average volume of 1,248,892. The business’s 50 day moving average is $106.92 and its 200 day moving average is $112.49. T. Rowe Price Group has a 52 week low of $87.43 and a 52 week high of $122.27. The company has a market capitalization of $23.80 billion, a P/E ratio of 12.70, a PEG ratio of 1.81 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS. Equities analysts expect that T. Rowe Price Group will post 8.97 EPS for the current year.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $29,000. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $36,000. Versant Capital Management Inc boosted its holdings in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.